MPs call for a “complete reset” of music streaming industry

MPs call for a “complete reset” of the music streaming industry to ensure artists are protected and fairly paid. They want musicians to receive 50% of revenue from royalties instead of the current rate of 16%. Music icons from Mick Jagger to Paul McCartney and Nile Rogers have called for action. MPs also accused Sony, Universal and Warner Music of a “lack of clarity”. The inquiry also found that the problem has worsened during Covid as performers have not been able to earn income from touring. Streaming companies have said they are open to changing the royalty system.

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